"This special report analyzes U.S. insurer exposure to “other long-term invested assets,” as reported on Schedule BA, focusing on joint ventures, partnerships and limited liability companies (LLCs) that have the underlying characteristics of common stock (primarily private equity funds, or PE), real estate (primarily real estate funds, or RE, not including mortgages) or “other” (primarily hedge funds, or HF), as they are the significant component of insurer investments in other long-term invested assets."